Nigeria Soon To Launch $1 Billion Eurobond For Infrastructure Projects

Nigeria’s $1 billion Eurobond is poised to be unveiled before the end of September this year, Abraham Nwankwo, Director-General, Debt Management Office (DMO), told Business Day on Monday.

Fuel subsidy removal: Tips for EFCC

Protesting Nigerians

THE Nigerian government claims that Nigerians consume 34million litres of petrol per day. Most experts disagree and give a figure between 20ml and 25ml per day. For this write up, I will use the government figure.

Cash-lite: Operators to spend N315bn on ATM, PoS deployment

ATM Machine

As the January 1, 2012 take-off of the cash-lite economic system in Lagos draws closer, stakeholders, including Deposit Money Banks and Payment Terminal Service Providers licensed by the Central Bank of Nigeria, will spend N315bn to deploy new Automated Teller Machines and Point of Sale terminals, investigation has revealed.

Foreign partners owe Nigerian charcoal exporters N96m

Minister of Trade and Investment, Mr. Olusegun Aganga

Twenty eight Nigerian exporters of charcoal to foreign countries in Europe have been duped to the tune of 447, 576 Euros (N96.3m).

Revived Volkswagen Nigeria to launch locally made buses

The local made Volkswgen workshop

Decades after the German technical partners pulled out of Volkswagen of Nigeria, leading to its eventual shut-down, the auto plant, located at Ojo, Lagos, is set to start making vehicles again, following the rejuvenation of the decrepit production facilities by the new owners.

Access Bank leads other banks in financial transparency

Access Bank and Stanbic IBTC have emerged as the banks with the best risk management and corporate governance disclosures in their published 2010 annual reports. The two banks emerged from a rigorous evaluation of the adequacy of their risk management and corporate governance disclosures in the published annual reports of listed Nigerian banks.

Senate Panel Indicts BPE boss, Recommends Sack

Ms. Bolanle Onagoruwa

The Senate Adhoc Committee that probed the privatisation of Federal Government enterprises over the last decade has indicted, and thereafter, recommended that the Director-General of the Bureau for Public Enterprise, Ms. Bolanle Onagoruwa, be removed.

FG vs BA face-off: Cameron writes Jonathan

British Prime Minister, David Cameron and President Goodluck Jonathan during his two-day official visit to Nigeria.

ABUJA — British Airways lobbyists have pressured the British Prime Minister, David Cameron, to intercede on behalf of the airline to save it from losing more than 50 per cent of its flight frequency to Nigeria following the treatment meted out to Nigeria airline, Arik Air, at Heathrow Airport.

Flight dispute: BA loses special privileges at MMIA

Minister of Aviation, Mrs. Stella Oduah

The United Kingdom flag carrier, British Airways, has lost its Boeing 747-400 dedicated parking bay at the Murtala Muhammed International Airport, Lagos, which is Nigeria’s flagship airport.

Jonathan targets 110,000 jobs in four years

L-R: Vice President Namadi Sambo; Bolaji Abdullahi, minister of youth development; Ngozi Okonjo-Iweala, minister of finance, and President Goodluck Jonathan, launching the job creation programme in Abuja, yesterday. NAN

The Federal Government has started the implementation of its job creation agenda, with the launch of a new employment generation scheme which targets to create between 80,000 to 110,000 sustainable jobs over the next four years.

Banking Sector Reforms: Aftermath of September 30 Deadline

Mallam Sanusi Lamido Sanusi

Last week, the September 30, 2011 deadline set by Central Bank of Nigeria (CBN) brought to a close the reform programme initiated about 24 months ago to end the banking crisis.

UK firm plans mass housing projects in Nigeria

A housing estate in Bukit Batok New Town, Singapore

A United Kingdom-based company, TBC Africa Construction Ltd, has revealed plans to embark on mass housing projects in Nigeria.

Paymaster obtains CBN PTSP licence

Paymaster Limited, a subsidiary of Chams plc, has been licensed by the Central Bank of Nigeria (CBN) to operate as a Payment Terminal Service Provider (PTSP), for Point-of-Sale (PoS) terminals to be deployed across the country.

Union Bank meets regulatory deadline on capital adequacy

Abuja, Nigeria – Union Bank of Nigeria plc, one of Nigeria’s oldest and largest commercial lenders by assets and size, yesterday met the regulatory deadline set for all the intervened banks to reorganize their existing shareholding structure and recapitalize to regulatory requirements.

Sterling Bank Plc Finalises deal with ETB

Sterling MD, Yemi Adeola

The Merger and Acquisition deal between Sterling Bank Nigeria and Equatorial Trust Bank has just been concluded.

Nigeria's rescued banks recapitalise

Nigeria's Union Bank on Friday became the last lender rescued in a $4 billion 2009 bailout to get recapitalisation approval, bringing to a close a reform programme set-up two years ago to end the country's banking crisis.

Shareholders of FinBank Plc Approves merger deal with FCMB

CBN Governor Lamido

Abuja, Nigeria - The Shareholders of Finbank Nigeria Plc have just approved the proposed Merger and Acquisition Deal between bank and First City Monument Bank (FCMB).

Oceanic Bank concludes merger deal with ETI with shareholders' approval

The chief executive officer of Oceanic Bank, John Aboh today says the shareholders approval of the merger deal with Ecobank Transnational Incorporated or ETI will benefit them in the areas of improved cash and bonus dividend as ETI operates as a pan-African commercial lender.

Intercontinental Bank in Merger Deal with Access Bank

Lagos, Nigeria – The shareholders of Intercontinental Bank plc have approved the restructuring of the company’s share capital and recapitalization, bringing to a successful conclusion the planned merger or business combination with Access Bank plc.

Sterling Bank to acquire ETB

Sterling Bank said on Thursday it will issue 3 billion new shares to acquire privately-held Equitorial Trust Bank, paving the way for the rescued lender to recapitalize ahead of a central bank September deadline.